Category archive

Stock Analysis - page 16

The Hidden Risk in Risk

in Stock Analysis

April 1, 2004 – TheStreet.com: Street Insight We look at risk differently than most investors do. Rather than considering risk to be volatility or beta, we distinguish between “observed” risk and “hidden” risk. Hidden risk is not much different from observed risk – except it has not yet surfaced. Yogi Berra put it very eloquently:…

Keep Reading

Attitude is Everything

in Stock Analysis

March 4, 2004 – TheStreet.com: Street Insight   Paraphrasing Yogi Berra, investment is 90% mental — the other half is skill. The right emotional state of mind is critical since investing is not an exact science. An ability to make rational decisions under uncertainty with incomplete information is what investing is all about.   Our…

Keep Reading

Russian Oil Production

in Stock Analysis

By Vitaliy Katsenelson Paint me a skeptic or perhaps it’s just from being born in Russia, but I think Russian oil production is very likely to decline in the future. Why? Simple, over last couple of years Russian Government has de-privatized a big chunk of oil companies.  As we know government is not as effective…

Keep Reading

Jos. A. Bank: You Betcha!

in Stock Analysis

Jos. A. Bank (Nasdaq: JOSB) has reported its second-quarter numbers, and they aren’t good — they’re great!

To start with, sales were up 20.8%, and gross and operating margins improved, mainly driven by maturation of the company’s fairly new store base. But the Jos. A. Bank story is not about growth — it always had plenty of that. It is about inventories, and they were the bright, shining star of this quarter. Specifically, inventories increased only 11.7% over the second quarter last year. So why is that great news?

To answer that question, it’s necessary to understand the issues surrounding Jos. A. Bank. First, it has double the inventory days (a measure of how long it takes to convert inventory into sales) of its closest competitor, Men’s Wearhouse (NYSE: MW), and second, it had a terrible first quarter due to too much seasonal inventory. I have written two long articles on the first issue, so let me address the second issue here.

Keep Reading

1 14 15 16
Go to Top

JOIN OUR NEWSLETTER

Tired of generic investment advice?